Monthly retentions. The Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period on the same day in each month, there is transferred to the Retention Account: (a) one-third of the repayment instalment in respect of the Loan falling due under Clause 8.1 (Payment of Earnings) on the next Repayment Date; and (b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest. Where:
Appears in 2 contracts
Samples: Facility Agreement (Navios Maritime Partners L.P.), Facility Agreement (Navios Maritime Partners L.P.)
Monthly retentions. The Each Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period on the same day in each month, there is transferred to the Retention Account:
(a) one-third of the repayment instalment in respect of the Loan falling due under Clause 8.1 (Payment of Earnings) on the next Repayment Date; and
(b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest. Where:
Appears in 1 contract
Samples: Term Loan Facility Agreement (Navios Maritime Partners L.P.)
Monthly retentions. The Each Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period on the same day in each month, there is transferred to the Retention Account:
(a) one-third of the repayment instalment in respect of the Loan each Advance falling due under Clause 8.1 (Payment of Earnings) on the next Repayment Date; and
(b) the relevant fraction of the aggregate amount of interest on the Loan each Advance which is payable on the next due date for payment of interest. Where:
Appears in 1 contract
Samples: Supplemental Agreement (Navios Maritime Containers Inc.)
Monthly retentions. The Borrower undertakes with each Creditor Party to ensure that, throughout the Security Period on the same day in each month, there is transferred to the Retention Account:
(a) one-third of the repayment instalment in respect of the Loan each Advance falling due under Clause 8.1 (Payment of Earnings) on the next Repayment Date; and
(b) the relevant fraction of the aggregate amount of interest on the Loan each Advance which is payable on the next due date for payment of interest. Where:
Appears in 1 contract
Samples: Facility Agreement (Navios Maritime Containers Inc.)
Monthly retentions. The Each Borrower undertakes with each Creditor Party to ensure that, throughout as of 1 January 2020 in each calendar month of the Security Period Period, on such dates as the same day in each monthAgent may from time to time specify, there is transferred to the Retention Account:
(a) one-third Account out of the repayment instalment Earnings received in respect its Earnings Account (or any of them) during the Loan falling due under Clause 8.1 (Payment of Earnings) on the next Repayment Date; and
(b) the relevant fraction of the aggregate amount of interest on the Loan which is payable on the next due date for payment of interest. Wherepreceding calendar month:
Appears in 1 contract
Samples: Second Amending and Restating Deed (Global Ship Lease, Inc.)
